We construct a tractable general equilibrium model of cumulative innovation and growth, in which new ideas strictly … lower than the social plannerś benchmark, which suggests a role for patent policy. We focus on a "non-infringing inventive … the rate of innovation, as well as a separate optimal required inventive step that maximizes welfare, with the former …

O'donoghue and Zweimüller (2004, J. of Econ. Growth), a seminal work, showed that broadening leading breadth in patent … protection can stimulate innovation. However, the empirical literature has consistently found skeptical results on the positive … our model, broadening leading breadth can negatively affect innovation because each innovator is incentivized to free …

We develop a Schumpeterian growth model to analyze the interaction between patent policy and firms’ internal strategies … to capture value from innovations. We consider two dimensions of patent policy: backward protection against imitation and … forward protection, also known as blocking patents, against subsequent innovation that builds on a patented technology …

-technology machine is launched after the patent is granted is influenced by two factors: returns to scale in technology development and … imitators to enter an industry, i.e., when imitation is swift and relatively cheap and/or patent protection is relatively … lengthy. We then explore the link between the optimal patent length and economic growth, and find that the equilibrium …

cases policy should favour R&D by incumbents, not outsiders, and that stronger patent protection may reduce innovation and … growth. -- Technological Lead ; Innovation ; R&D …

cases policy should favour R&D by incumbents, not outsiders, and that stronger patent protection may reduce innovation and …

use, innovative activity, and patent protection, on economic growth in a model with many regions. In each region …. Second, we characterize the transitional dynamics in our model. Third, we determine the value of the patent expiry rate that … maximizes the equilibrium growth rate of a region. Finally, we show that a policy of offering perpetual patent protection does …

use, innovative activity, and patent protection, on economic growth in a model with many regions. In each region …. Second, we characterize the transitional dynamics in our model. Third, we determine the value of the patent expiry rate that … maximizes the equilibrium growth rate of a region. Finally, we show that a policy of offering perpetual patent protection does …